Russia 101216 Basic Political Developments
Russia: Putin advised of potash producers' merger
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- Norlisk Nickel: "We own the Honeymoon Well project"
- DJ Eurasia Mining: Monchetundra License Extended To December 2012
Russia: Putin advised of potash producers' mergerhttp://www.mineweb.com/mineweb/view/mineweb/en/page504?oid=117007&sn=Detail&pid=102055 Vladimir Putin's spokesman confirms PM aware of merger talks between Uralkali and Silvinit. Author: Gleb Bryanski Posted: Thursday , 16 Dec 2010 MOSCOW (Reuters) - Russia's Prime Minister Vladimir Putin has been informed of a merger between the country's two major producers of fertiliser component potash, his spokesman Dmitry Peskov told Reuters on Wednesday. "He is informed about the ongoing merger between Uralkali and Silvinit," Peskov said by telephone. Peskov's comments effectively confirm long-standing speculation that the two producers may merge. No major merger or acquisition, particularly involving natural resources, goes ahead in Russia without the knowledge of Russia's powerful prime minister. A spokesman for Uralkali could not immediately be reached for comment. Uralkali and Silvinit have been widely tipped as merger partners since the Russian billionaire Suleiman Kerimov and associates bought controlling stakes in both companies during the summer. Together they produce around 11 million tonnes of potash every year -- second in the world behind Canada's Potash Corp POT.CA. The potash industry took centre stage on global markets earlier in the year when giant Australian miner BHP Billiton (BHP.AX: Quote) launched a hostile $39 billion bid for Potash Corp -- a move eventually repelled following opposition by Canadian authorities. Privately held Russian fertiliser minnow Phosagro has also said it is interested in a stake in Potash Corp, but a firm offer is not expected imminently. Potash prices have soared this year due to its importance in growing food for an expanding world population. (Reporting by Gleb Bryanski; writing by Melissa Akin and John Bowker; Editing by Mike Nesbit) Norlisk Nickel: "We own the Honeymoon Well project"http://www.mineweb.com/mineweb/view/mineweb/en/page674?oid=117016&sn=Detail&pid=102055 Thursday , 16 Dec 2010 Moscow, December 15, 2010 - In connection with a number of publications in Russian media covering Australian projects of MMC Norilsk Nickel (the Company), we would like to state the following: MMC Norilsk Nickel actually owns Honeymoon Well project in Australia. The project is one of the integral parts of the Company's asset development program in this country. Honeymoon Well is considered for both the independent implementation and as a potential resource base for Cawse enterprise, which the Company plans to launch after completion of the feasibility study for the project. Currently the Company is not negotiating joint development of Honeymoon Well with BHP Billiton. Furthermore, MMC Norilsk Nickel has a joint venture with BHP Billiton - the Albion Downs project - part of the Company's exploration program in Australia. The results of the currently held exploration works will allow evaluating prospects of the future development of this deposit. ABOUT MMC NORILSK NICKEL: MMC Norilsk Nickel, a company incorporated under the laws of the Russian Federation, is the largest diversified mining and metals company in Russia, the world's largest producer of nickel and palladium and one of the world's largest producers of platinum, rhodium, copper and cobalt. In addition to this, MMC Norilsk Nickel produces a large number of other by-products, including gold, silver, tellurium, selenium, iridium and ruthenium. The key production units of the Company's group in Russia are at the Polar and Kola Peninsulas. MMC Norilsk Nickel international assets include operations in Finland, USA, Australia, Botswana and South Africa. MMC Norilsk Nickel's shares are traded at MICEX and RTS. ADR's on the Company's shares are traded on the other the counter market in the US and at the London and Berlin stock exchanges. Trans-Siberian Gold production start pushed back http://www.stockmarketwire.com/display/?id=4034885§ionId=standardNews 09:21 15/12/2010 StockMarketWire.com - Russia-focused miner Trans-Siberian Gold plc warned that the start of production from its Asacha project in Kamchatka, previously expected in the first quarter of 2011, will be delayed until the middle of the year. It blamed a delay in the manufacture and delivery of high-voltage cables and other electrical equipment, pumps for the fire station and sewage treatment; additional design works required for early commissioning of the cyanide and fuel storage facilities in accordance with regional and local regulations; and the early onset of winter snow. The likely impact of these factors on the pace of construction meant an additional three to four months would be needed to complete the plant, said the company. Underground mine development was continuing as scheduled. During the 11 months to end-November, mine development and preparation works, by-product extraction and exploration works amounted to more than 1,450m and more than 15,000 cubic metres. Ore mined during mine development activities in this period totalled about 18,700 tonnes. Work on the tailings storage facility was affected by exceptional rainfall during the summer. Construction of the technological pipelines is scheduled for the first quarter of 2011. Shares were down 4p at 62p. DJ Eurasia Mining: Monchetundra License Extended To December 2012http://www.tradingmarkets.com/news/stock-alert/eusmf_dj-eurasia-mining-monchetundra-license-extended-to-december-2012-1369617.html Posted on: Wed, 15 Dec 2010 09:09:14 ESTLONDON, Dec 15, 2010 (Dow Jones Commodities News via Comtex) -- Eurasia Mining PLC (EUA.LN), a firm engaged in exploration for and development of platinum group metals, gold and other minerals in Russia, said Wednesday its exploration license at Monchetundra in the Kola Peninsula in Russia has been extended for a further two years to December 2012. MAIN FACTS: -Extension will enable the company to continue to progress the exploration work at the site. -Company intends to focus on developing mine plans to allow the application for a production license to be made during the term of the extension. -Monchetundra drilling results include intercepts up to 10.28 g/t Palladium equivalent in the West Nittis contact zone as well as discovery of a new hanging wall zone of platinum group metals, or PGM, mineralization in an intersection returning 2.66 g/t Platinum and 8.2 g/t Palladium. -Drilling was completed on a sub-area known as "West Nittis" and targeted shallow, flat dipping, open pittable mineralization in an area where no previous drill testing had been undertaken by the Company. -Total of 1,316 meters in 9 drill holes were completed and from this work the basal mineralized zone was confirmed in 7 holes. -Zone consists of sulphide mineralization which contains base metals with platinum group metals. -Additional drilling is underway to further test these hanging wall structures, as they would add significantly to any open pittable resource defined in the West Nittis sub-area. -Shares at 1405 GMT up 0.05 pence or 4.55% at 1.20 pence. -By Tapan Panchal, Dow Jones Newswires. Tel +44(0)207-842 9448, tapan.panchal@dowjones.com (END) Dow Jones Newswires Leo Himmelbauer | 12.16.2010 | 08:19 Siemens is expanding in the Russian financial market http://www.wirtschaftsblatt.at/home/boerse/binternational/siemens-expandiert-im-russischen-finanzierungsmarkt-451649/index.do?_vl_pos=r.1.NT GOOGLE TRANSLATION
http://www.bne.eu/dispatch_text13888 Renaissance Capital
Event: Yesterday (15 December) Der Standard reported, citing unidentified bankers familiar with the planned sale, that Sberbank may be interested in bidding for Volksbanken AG's Eastern Europe unit. According to the newspaper, Volksbanken is selling its 51% stake in Volksbank International. Germany's DZ Bank AG and France's Groupe BPCE each own 24.5%. According to Der Standard, Volksbank International is active in nine Eastern European countries (not including Russia) and has a balance sheet of EUR14bn ($18.6bn); the sellers are reportedly aiming for a price of EUR2bn. There was no comment from Sberbank. Action: Neutral for Sberbank, in our view. Rationale: Expansion into Central and Eastern Europe is part of Sberbank's medium-term strategy, and Sberbank is probably looking at various potential targets in the region. In the past 12 months, there have been press reports on Sberbank potentially bidding for Poland's Zachodny Bank and Turkey's Garanti, but no deals have resulted so far. We believe it is too early to evaluate the likelihood and impact of a potential deal wtih Volksbank, but will be watching the news flow on the issue. As with previous stories linking Sberbank to banks in the region, we believe Sberbank is on a "look-see and learn" mission, as opposed to having any real interest in acquiring the asset. Svetlana Kovalskaya
http://www.bne.eu/dispatch_text13888 Renaissance Capital
Event: Yesterday (15 December) Gazeta.ru published an interview with VTB CEO Andrei Kostin, in which he makes the following statements: • VTB's 2010E earnings will exceed RUB50bn (the previous guidance). Our current forecast is RUB54.7bn, and the consensus forecast is RUB55.4bn, so our and market expectations already reflect the more optimistic outlook. • VTB is not considering acquiring HCCF or any other consumer finance bank. This refers to earlier speculations in the press, which have already been officially denied. • VTB expects to buy control or 100% of Bank of Moscow in 1H11. VTB has already publicly confirmed its interest in acquiring Bank of Moscow, but Kostin's statement adds a more specific timeline (1H11). The key unknown at this stage is the price, which is crucial for evaluating a potential deal. No details on the deal's pricing have been provided yet. We understand that the price has yet to be agreed on among the parties - VTB, the City of Moscow government (46% stake) and other shareholders - whose participation will be required for VTB to gain control. Action: Neutral for VTB, in our view. Rationale: VTB clearly has excess capital (18% CAR as of 9M10) and is looking to utilise it for growth, including via M&A. The Bank of Moscow acquisition fits with that objective: it is a top-five bank in Russia, with total assets at 23.5% of VTB's. While VTB has consistently delivered above-average growth, RoE is more of an issue. VTB's acquisition of TransCreditBank (deal signed, to be closed early next year) looks like a decent deal to us from a price/RoE perspective: acquiring a 25-30% RoE bank at 2.2x P/B. We will see how it works with Bank of Moscow. Svetlana Kovalskaya Directory: gifiles -> attach attach -> British Forces – Akrioti, Greece Griffin Fighter Squadron (84 Squadron raf) MoD announced possible Typhoon and Tornado arrivals to the base France attach -> Russia 110204 Basic Political Developments attach -> Unclassified//for official use only attach -> Adaptability Sustainment attach -> Pop-up 1 ("C" Chechnya) Header Text: Emir of the Caucasus Emirate Doku Umarov Image attach -> Russia and Islam are not Separate attach -> Chapter 13: The Northern Caucasus attach -> Russia 100209 Basic Political Developments attach -> The evolution attach -> The devolution Download 272.86 Kb. Share with your friends:
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